StoneCo Ltd (NASDAQ:STNE) shares reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $43.91 and last traded at $41.49, with a volume of 395914 shares. The stock had previously closed at $34.60.
The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $139.04 million for the quarter, compared to analyst estimates of $116.87 million.
STNE has been the topic of a number of recent research reports. Zacks Investment Research downgraded StoneCo from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Bank of America lifted their target price on StoneCo from $26.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $29.32.
The firm has a market cap of $9.59 billion and a price-to-earnings ratio of 114.55.
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StoneCo Company Profile (NASDAQ:STNE)
StoneCo Ltd. provides financial technology solutions that empower merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and technology and solutions to digital merchants through sales and technical personnel and software vendors.
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